Atlas Energy To Acquire Moser Energy Systems For $220 Mln

(RTTNews) - Atlas Energy Solutions Inc. (AESI), a proppant producer and proppant logistics provider, announced on Monday that it has signed an agreement to acquire all of Moser Acquisition, Inc.'s outstanding capital stock. The deal is valued at $220 million.

The company says the transaction is estimated to be immediately accretive.

The transaction includes $180 million in cash and 1.7 million shares valued at $40 million, based on the 20-day average price as of January 24. The transaction is anticipated to close by the end of the first quarter of 2025.

The merger of Atlas's completion platform and Moser's power platform forms a diversified energy provider with top-tier proppant, logistics, and power solutions.

Atlas's natural gas-powered fleet of around 212 MW expands into production and power markets, reducing volatility in completion operations and benefiting from favorable market trends.

The expansion enhances Atlas's customer base in the Permian Basin and adds geographic diversity with operations in key U.S. oil and gas regions.

The acquired assets are projected to generate $40-45 million in Adjusted EBITDA in 2025, valuing them at roughly 4.3x full-year 2025 EBITDA.

Atlas secured funding for the cash portion, including the Cash Option, through an increased amendment to its delayed draw term loan facility.

Atlas expects the revenue for the fourth quarter to be between $270 million and $272 million, marking a 92 percent increase compared to $141.1 million in Q4 2023.

The Adjusted EBITDA is expected to be between $62.2 million and $64.2 million, reflecting an 8 percent decrease from $68.7 million in the fourth quarter of 2023.

For the fiscal year, the company expects revenue to be between $1.055 billion and $1.057 billion, a 72 percent increase from $614 million in the fiscal year ending December 31, 2023.

The Adjusted EBITDA for the fiscal year is expected to be between $287.9 million and $289.9 million, a 12 percent decrease from $329.7 million in the fiscal year, ending December 31, 2023.

On Friday, Atlas Energy had closed 0.13% higher at $13.92 on the New York Stock Exchange.